General Motors (GM.US) is an American multinational automotive company with a market capitalization of $51.03 billion as of August 8, 2023. Founded in 1908 by William C. Durant, it has played a significant role in the global automotive industry.
Throughout its history, General Motors has been a pioneer in automobile manufacturing, introducing iconic brands such as Chevrolet, Cadillac, and Buick. The company has experienced various successes and challenges over the years, becoming one of the largest and most influential automobile manufacturers in the world.
It went public in 1916 and has since grown into a global powerhouse, producing a diverse range of vehicles, from cars and trucks to electric and autonomous vehicles.
In early 2020, the world was hit by a global pandemic, which had far-reaching consequences for the global economy. The automobile industry was among the hardest hit, as lockdowns, and restrictions on travel, affected sales. General Motors (GM.US) stock was not spared, experiencing a steep pullback in early 2020. By March 2020, the stock had reached a low of $14.32. In response to the pandemic, the company cut costs aggressively, which helped to stabilize its share price. In 2021, we saw strong growth in the global economy, and the stock market responded positively. In January 2022 the stock reached its five-year high, hitting $67.21.
Traders interested in the stock may take advantage of market volatility to maximize profits through strategies such as day trading. Also, tools and indicators such as moving averages, MACD, and RSI may help traders spot trends and potential entry/exit points.
Competition does exist in the automotive industry, and as a trader, it is critical to consider these other companies when considering trading General Motors stock. They include:
- Tesla (TSLA.US): Founded in 2003 by entrepreneur Elon Musk, Tesla has become a household name in the electric vehicle industry. The company has developed several high-end electric car models and has even ventured into the solar and energy storage industry.
- Ford (F.US): Ford Motor Company, established in 1903, is one of the oldest American carmakers and has long been an active competitor in the automotive industry. As a pioneer in manufacturing cars, Ford has produced several iconic and accessible car models.
- Volkswagen (VOW.DE): Volkswagen, founded in 1937 is known for producing quality vehicles at competitive prices, and with its wide range of brands (including Audi, Bentley, Bugatti, among others).
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The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
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